Register now to get rid of these ads!

NADA Price guides for Classics

Discussion in 'The Hokey Ass Message Board' started by P51captain, Jun 10, 2012.

  1. P51captain
    Joined: May 21, 2012
    Posts: 13

    P51captain
    Member

    What are your thoughts on the pricing in the NADA guides? How do they arrive at the values? Do they use actual sales or just guess? :confused:
     
  2. Hnstray
    Joined: Aug 23, 2009
    Posts: 12,355

    Hnstray
    ALLIANCE MEMBER
    from Quincy, IL

    I was in the retail new and used car business for decades....now retired. The NADA guides are, in my opinion, useful for many things as they contain a wealth of information. However, market values they reported usually seemed to be high, in my experience. They were most useful for banks and insurance companies when determining loan value or settling claims. But if a dealer tried to rely on them for immediate buying/selling decisions the info was unreliable.

    That is because in the late model used car market it was often very dynamic...on the same day, literally, the same models of cars might be selling for hundreds less, or more, in an auction only a few hundred miles away. The next week, the same vehicles at the same auction could be up or down. It is very difficult, impossible, for the once a month publication to accurately reflect the wholesale market. Not much different on the retail price reporting.

    But you are asking about "classic" cars you say! In my opinion, the best indicator of that category are the auction reports from around the country. Usually they carry accurate categorization, i.e. #1, 2, 3 etc and indicate what a real person wrote a real check for that day.

    What does not get well reported is the many, many private transactions.....nor an accurate categorization....and those figures are all over the price map.

    The guide books, at best, offer a range of prices but nothing that can be considered "gospel". As trite or cliched as it may sound, the old adage "things are worth what you can get for them" is very true. The older and more varied the condition, and a myriad of other factors that comprise collectibles, .....and the wide variability of the buyers in a given market,.... the more difficult it is to offer accurate forecasts.

    Ray
     
  3. bobwop
    Joined: Jan 13, 2008
    Posts: 6,131

    bobwop
    ALLIANCE MEMBER
    from Arley, AL

    I agree with Ray. NADA is not accurate for older vehicles.

    Old Cars Price Guide and Black Book Cars of Particular Interest provide guidance to me.
     
  4. 1964countrysedan
    Joined: Apr 14, 2011
    Posts: 1,135

    1964countrysedan
    Member
    from Texas

    NADA "classics" is worthless. Is the range accurate? No. Check it out yourself.

    Is your Plymouth worth $8872... maybe?
    Is your Plymouth worth $21,105... who knows
    Can one be bought for $700? Can someone spend $30,000+ on one? Sure.

    I have a guy that calls me about every two weeks with a "steal on a classic". He tells me about the vehicle and then states high NADA retail. I cuss his logic and tell him I will check it out. I then search and search the internet, including the HAMB classifieds, to see what people are "ASKING" for similar vehicles, in similar condition. If I am not comfortable with my findings but want the vehicle, I make an offer. NADA values are not considered.

    other threads
    http://www.jalopyjournal.com/forum/showthread.php?t=213372&highlight=nada

    http://www.jalopyjournal.com/forum/showthread.php?t=640455&highlight=nada

    http://www.jalopyjournal.com/forum/showthread.php?t=638654&highlight=nada

    and on and on

    search
     

    Attached Files:

  5. rld14
    Joined: Mar 30, 2011
    Posts: 1,609

    rld14
    Member

    Just like their books for modern OT Stuff, not accurate.
     
  6. Mr48chev
    Joined: Dec 28, 2007
    Posts: 35,538

    Mr48chev
    ALLIANCE MEMBER

    I have to agree with the gents in the previous posts. The NADA book might be good for 'don't go over" but their prices usually seem to be out of touch with the real world on most cars. Results from real world auctions are probably the best source of the going prices of cars not including the after the drinks start flowing Auctions on TV.

    Plus just like late model O/T rigs location seems to be a big factor on the selling price of certain rigs.

    I'm still one of the hard core that belives that a "classic" car is only one that is listed on the Classic car registry of true classics. The newest listed one being the 56 Lincoln Mark II. Just because a car is over 25 years old doesn't make it a "classic" it makes it an old car and some are nice old cars.

    One thing I saw yesterday while attending an auction of a local businessman's collection of mostly modified vehicles is that the wrong modifications on the wrong cars kill the value to somewhere between slim and none. A 60 Coupe Deville w/o title that would have most likely brought 4 k if it had had the original drivetrain in it brought under 2 k because it had a big block Chev with dual quads sticking out the hood.
     
  7. Hnstray
    Joined: Aug 23, 2009
    Posts: 12,355

    Hnstray
    ALLIANCE MEMBER
    from Quincy, IL

     
  8. Bobert
    Joined: Feb 21, 2005
    Posts: 820

    Bobert
    Member Emeritus

    x2 Hnstray!
     
  9. rld14
    Joined: Mar 30, 2011
    Posts: 1,609

    rld14
    Member

     

Share This Page

Register now to get rid of these ads!

Archive

Copyright © 1995-2021 The Jalopy Journal: Steal our stuff, we'll kick your teeth in. Terms of Service. Privacy Policy.

Atomic Industry
Forum software by XenForo™ ©2010-2014 XenForo Ltd.